Tuesday, February 17, 2015

Sorry Lady, Forgot The Month

I'm back. Sorry for the long break in posts. Google's very protective two-step authentication shut my access down during my time in Abaco. My welcome home first sunrise in Cocoa Beach this morning at left.

On my first partial day back in Cocoa Beach yesterday a nice lady snowbird shook her fist at me from her minivan in the Publix parking lot because she apparently thought my driving pace too casual. Whatever. The streets, Post Office, grocery stores and golf course are jammed to the max with winter visitors, some of them, judging from my encounter yesterday, with their back-home attitudes intact. Protect yourselves accordingly.

Sales of properties in Cocoa Beach and Cape Canaveral this January lagged last January's numbers considerably. There were 46 condos and 11 single family homes closed in the month this year compared to sixty and seven, respectively in 2014. The sold single family homes were skewed to the lower end of the price range with seven of the sales closing for prices below $300,000, all non-waterfront. The four waterfront homes sold closed at prices between $475,000 and $700,000. None of the eleven were short sales and only one was bank-owned.

The 46 closed condos and townhomes were evenly distributed in price with the bottom quarter closing for less than $100,000 and the top quarter closing at prices above $240,000, seven of those between $300,000 and $799,000. Over 70% of all condo sales closed for cash. Three of the condos were short sales and six were bank-owned.

Our current inventory has increased somewhat with the Cocoa Beach MLS reporting 271 units for sale this morning in Cocoa Beach and Cape Canaveral. Five of those are short sales and sixteen are bank-owned. There are 64 single family and half-duplexes for sale. None of them are short sales and four are bank-owned.

The sales in January confirmed the continuing upward trend of selling prices. Barring some unforeseen event, with the robust demand for properties, I think we can expect that to continue. Good luck if you're looking to purchase and resist the urge to lowball. The current dynamic guarantees that that routine has a very low chance of success.

Winter rules are in place.
  • Tee times are absolutely necessary unless golfing after 3 PM. 
  • Add at least 15 minutes drive time for any drive through the main part of Cocoa Beach. 
  • Wear protective and/or padded clothing for grocery store trips and under no circumstances approach the free coffee stand at Publix. 
  • Avoid the "Express Checkout-10 items or less" line
  • Tip your servers and be nice to them.
  • Be very aware walking if crossing driveways on the sidewalk.
  • DO NOT wave waiting cars into traffic ahead of you. It's not polite. It's dangerous.

"Wait. Be patient. The storm will pass. The spring will come." __Robert H. Schuller

Winging Back - New Post Shortly